Australian May business confidence and conditions both fall

National Australia Bank Business Survey results.

  • Confidence 6, prior 10
  • Conditions 16, prior 20

Despite the drop in both they are still solid. the long-run confidence level is around 6. Conditions are sell above their average.

Sub measures were solid also:

  • sales -3 points to +24
  • profitability -4 points to +17
  • employment index +1 to +11


  • Overall, the survey indicates the economy has maintained its momentum into Q2 and most businesses are in a strong position despite the  inflation  headwinds, with the lift-off in interest rates and global growth risks yet to significantly impact Australia’s economic trajectory,
  • There was a slight easing in cost growth in May but inflation remains a key challenge.

AUD not doing much on the data:

aud nab business survey 14 June 2022

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